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NY DFS announces multistate investigation of payroll advance industry

CFPB Monitor

” Rather, they argue that the advances are payments for compensation already earned. Under former Director Cordray’s leadership, the CFPB took action against structured settlement and pension advance companies. North Carolina Office of the Commissioner of Banks. South Carolina Department of Consumer Affairs.

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Changes On Deck For The CFPB’s Payday Lending Rule

PYMNTS

Could it be that the CFPB, under new Executive Director Kathy Kraninger , will be moving directly to eliminate the more controversial provisions of its payday lending rule? In April, Mulvaney sided with two payday lending groups that sued the CFPB in an attempt to invalidate the regulatory restrictions created by the new rules. .

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